Eppley Limited planned to launch an initial public offering on 218,999 of its shares. With each share priced at JMD377 per share on the junior stock exchange, this IPO would be the most expensive IPO in the junior stock exchange's 4-year history.
If the offer became successful, Eppley's stocks would be the most expensive stock listed on the JSE. A total of JMD45.9 million was aimed to be raised by the company through this IPO, according to the company's prospectus.
Only 9.17% of the shares or 73,000 shares will be offered to the public. The rest will be for the company's staff, directors, and creditors. Stony Hill Capital Limited will be getting 121,666 shares to pay for Eppley's loan. The shares were valued at JMD45.9 million. The offer to subscribe will open on July 22.
Eppley Limited was a financing company, whose majority owner was the Musson group. It was formerlyknown as Orrett and Musson Investment Company. Nigel Clarke and Nicholas Scott were the company's chair and managing director, respectively.
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